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One way that retirees can trim their monthly or annual expenses is by reconsidering expenditures related to their vehicle.
Here are a few key carexpenses that could be worth avoiding or eliminating entirely.
Certified financial planner (CFP) Adam Bornn ofParallel Wealthexplained his position on the subject in aYouTube video.
Come retirement it’s possible for you to probably scale back to one vehicle.
Vehicles, outside of your home theyre probably the largest expense that you have, he said.
Could you reduce down to one vehicle?
I think thats a conversation a lot of you better have.
And for single people, could you scale down to no vehicle?
Andrea Woroch, a consumer finance and budgeting expert, reinforced this point when speaking toU.S.
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